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The President asked how preparations were going on the new Customs Code which comes into effect on 1 January 2004.

Mikhail Vanin said that the new code corresponds to the requirements of the World Trade Organisation. Furthermore, the code is the basis for modernisation of work of the entire customs service. Thus, deadlines for customs registration will be reduced by three times. The State Customs Committee will retain very few rights, but it will have many obligations, said Mikhail Vanin. Before the code comes into effect, it is necessary to prepare 15 Government decrees and abolish 3,000 existing by-laws.

Mikhail Vanin presented the first copy of the Customs Code to the President.